LDG Caroline Street Developments Limited - Accounts to registrar (filleted) - small 23.1.2
LDG Caroline Street Developments Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 AUGUST 2022 |
| FOR |
| LDG CAROLINE STREET DEVELOPMENTS LIMITED |
| LDG CAROLINE STREET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11495117) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 AUGUST 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| LDG CAROLINE STREET DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 AUGUST 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 1 Kings Avenue |
| London |
| N21 3NA |
| LDG CAROLINE STREET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11495117) |
| BALANCE SHEET |
| 30 AUGUST 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Inventories |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LDG CAROLINE STREET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11495117) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 AUGUST 2022 |
| 1. | STATUTORY INFORMATION |
| LDG Caroline Street Developments Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet it's liabilities to third parties as and when they fall due. Also, the director will continue to support the company when required. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.The estimates and underlying in assumption are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period or in the period of the revision and futures periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements. |
| Stocks |
| Inventories are valued at lower of cost and net realisable value. The cost of work in progress and finished projects includes all development costs and the attributable proportion of indirect overheads based on normal level of activity. Net realisable value is based on estimated selling price less the estimated cost of disposal. |
| Financial instruments |
| Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| LDG CAROLINE STREET DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11495117) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 AUGUST 2022 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Amounts owed by connected companies | 27,060 | 6,860 |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Amounts owed to participating interests | 3,438,627 | 2,534,344 |
| Other creditors |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Other loan | 2,441,538 | 2,301,625 |
| Owed to participating interest | 3,302,040 | 2,397,757 |
| The loans are secured by way of fixed and floating charges over all the properties included as inventories or all the undertakings of the company. It contains negative pledge. |
| 8. | RELATED PARTY DISCLOSURES |
| Included in creditors, amounts falling due more than one year, is an amount of £3,302,039.56 (2021:£2,397,757 ) owed to a company, which has a participating interest in the company.The loan amount includes interest charged for the year of £395,782.97 (2020: £267,603). |
| Included in creditors, amounts falling due more than one year, is an amount of £136,587 (2021: £136,587) owed to a companies, which has a participating interest in the company. The loan is interest free. |
| Included in debtors, amounts falling due within one year, is an amount of £27,060 (2020:£6,860) owed by a connected companies.The loan is interest free. |